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“In terms of the capital goods, we do feel that there is a case for major rerating of the sector though the stocks have already run up about 30-40%. Some of the prominent names like ABB, Siemens, L&T are the names where we think that from a next one to two year perspective, there is going to be a massive growth led rerating. ”

Morgan Stanley maintained its underweight rating on RBL Bank with a target price of Rs 115. Core pre-provision operating profit (PPOP) missed due to lower balance sheet growth/fee income, the brokerage said.

Despite concerns around inflation, high energy prices, and geopolitical tensions, UBS saw a strong inflow of new money, attracting $17 billion in net new fee generating assets in wealth management and $18 billion of net new money in asset management.

"The market sentiment from here is looking positive, which may take the Nifty towards 17700 and higher. The immediate resistance is visible at 17700, above which the Nifty may extend its rally towards 18100 over the short term. On the lower end, crucial support is placed at 17400 and 17250."

The eligible investors will get one share of NDMC Steel of the face value of Rs 10 each, for every share of NDMC of the face value of Re 1 each. Any investor, buying shares after Tuesday, October 25, will not be eligible for the shares of NDMC Steel and would need to buy them from the open market. Stock markets will observe a holiday on Wednesday.

"Business growth remains strong and was broad-based, with an increase of 23% YoY and 5% QoQ, led by both the Retail and Corporate segments. The bank continues to invest in technology and digital initiatives to further boost the pace and sustain the momentum.

The steep rise seen in the stock pushed it towards overbought levels; hence, some consolidation in the short term cannot be ruled out. Short-term traders can look to buy the sock on dips for a target of Rs 1400 in the next 3-4 months, suggest experts. The relative strength index or the RSI on the weekly timeframe is rising.

According to American investment bank JPMorgan Chase, the launch of 5G network services will be an area of focus for Jio as it launches in the top 5-10 cities, and a key marketing battle ground for premium users versus Bharti Airtel and Vodafone Idea.

Investors can approach Samvat 2079 with cautious optimism and remain invested in high-quality stocks and buy on declines in performing sectors like banking, capital goods, telecom and autos, advised Vijaykumar.

Top crypto tokens were trading mixed, though the changes were limited. XRP dropped over 3%, whereas Uniswap dropped more than 3%. Among the gainers, Cardano and Polkadot gained up to a per cent each.